IRSA Propiedades Comerciales (NASDAQ:IRCP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of IRSA Propiedades Comerciales (NASDAQ:IRCP) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “IRSA Propiedades Comerciales S.A. is a real estate company which focused on the acquisition, development, administration and operation of shopping centres and office buildings. IRSA Propiedades Comerciales SA, formerly known as Alto Palermo SA, is based in Argentina. “

Separately, ValuEngine cut Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th.

NASDAQ IRCP opened at $21.00 on Wednesday. The company has a quick ratio of 4.35, a current ratio of 4.36 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $663.16 million, a PE ratio of 2.95 and a beta of 0.56. IRSA Propiedades Comerciales has a 1 year low of $16.82 and a 1 year high of $37.00. The business has a 50-day simple moving average of $19.82.

IRSA Propiedades Comerciales (NASDAQ:IRCP) last posted its earnings results on Thursday, May 9th. The financial services provider reported ($0.32) earnings per share (EPS) for the quarter. The business had revenue of $51.49 million during the quarter. IRSA Propiedades Comerciales had a return on equity of 15.59% and a net margin of 121.57%. As a group, equities analysts anticipate that IRSA Propiedades Comerciales will post -2.14 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. 683 Capital Management LLC raised its position in shares of IRSA Propiedades Comerciales by 76.8% during the fourth quarter. 683 Capital Management LLC now owns 72,050 shares of the financial services provider’s stock worth $1,299,000 after purchasing an additional 31,303 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of IRSA Propiedades Comerciales during the fourth quarter worth about $1,010,000. VR Advisory Services Ltd acquired a new stake in shares of IRSA Propiedades Comerciales during the fourth quarter worth about $932,000. Finally, BlackRock Inc. acquired a new stake in shares of IRSA Propiedades Comerciales during the fourth quarter worth about $74,000. 5.73% of the stock is currently owned by institutional investors and hedge funds.

About IRSA Propiedades Comerciales

IRSA Propiedades Comerciales SA operates as an investment arm of IRSA Inversiones y Representaciones SA Alto Palermo SA engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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